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Is the Sungei Way area becoming popular again?

PETALING JAYA (Nov 28): According to recent reports, three deals have been completed this year while two others are being negotiated in the Sungei Way area.

The three completed deals are one -- a purchase in October by Taiwan Stock Exchange-listed Wistron Corp, two -- a lease agreement by Singapore Exchange- and Hong Kong Stock Exchange-listed Centurion Corp Ltd this month, and three -- the sale of a vacant 1.6-acre parcel on Jalan SS7/2 by Ideal Strata Sdn Bhd to Mediaraya Sdn Bhd for RM15.5 million.

Wistron bought a factory owned by Western Digital (M) Sdn Bhd for RM120 million. Located in Sungei Way Free Trade Industrial Zone (FIZ) and on an 11-acre parcel with a built-up of 500,000 sq ft, the plant will be used to manufacture Internet of Things products, reported The Edge Malaysia.

Meanwhile, Centurion Corp got a master lease from the Selangor State Development Corp to manage a purpose-built workers’ accommodation.

“Is Sungei Way back on the radar screen of investors?”, asked The Edge in the report this week.

Knight Frank Malaysia managing director Sarkunan Subramaniam is of the view that “recent developments” in the Sungei Way Free Trade Industrial Zone (FIZ) “augur well for the area”.

“They will act as a catalyst in reviving Sungei Way to its former glory as a key industrial area for multinational companies,” Sarkunan told weekly.

“With the entry of new international players into Sungei Way, we foresee there may be more manufacturing and manufacturing-related activities and renewed interest in this locality,” he added.

“The recent entry of new players will restore some confidence and allay concerns about the market in the area,” said executive director of LaurelCap, Stanley Toh.

The weekly also stated that it is “noteworthy that” the Nanyang Siang Pau building (located outside the FIZ) is ready to be leased and is seeking a tenant with a reported asking rent of RM2.50 psf. The building sits on a freehold site of 5.68 acres and comprises a 4½-storey office and 2½-storey warehouse with built-ups of 136,994 and 99,780 sq ft, respectively.

A smaller factory owned by Western Digital is also on the market. It comprised a double-storey building and a five-storey building with two basement levels with a total built-up of 500,000 sq ft (located on 3.6 acres of land).

Read the full report in this week’s The Edge Malaysia

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